Convergint to Acquire Banking Industry Security Specialists
Convergint Technologies will purchase Custom Vault Corporation, which operates BranchServ and CustomVault: BranchServ is a security and automation equipment and service provider for the finance industry, and CustomVault designs and installs complex, high-security modular vault solutions.
“Today’s announcement marks an exciting new chapter for both companies, our customers in the financial industry, and the future growth of Convergint,” says Ken Lochiatto, CEO of Convergint Technologies.
“As we continue to execute on our strategic growth strategy, one essential ingredient we seek before determining our interest is their investment and commitment to foster an inclusive, supportive culture — and Custom Vault Corporation embodies just that. This combination will further strengthen our ability to provide our customers in the financial industry with an unparalleled customer service experience.”
According to Convergint, in 2020 financial institutions accelerated deployment of digital transformation initiatives to meet consumer demand and preferences. Convergint Technologies said it currently holds service-based agreements with 17 of the 20 largest banks in the U.S., making the company one of the strongest, fastest-growing systems integrators within the industry.
“We are elated to be joining Convergint Technologies, which will provide our customers with an increased level of industry expertise and global servicing capabilities,” states Tom Brennan, CEO of Custom Vault Corp.
“Convergint’s cultural philosophies align directly with our company’s foundational operations, our service approach, and commitment to our clients and colleagues. We look forward to what’s to come in the future as a combined entity.”